bedrock? More like rockbottom. I'm guessing the Wall St crooks, and their enablers, such as Moodys (et al.), housing asessors, mortgage brokers, etc (the list is endless), would love to blame this mess on minorities home buyers.

Actually, it does look like minorities were targeted more than whites, because they were assumed to be vulnerable. On the other hand, it wasn't the fault of the minorities that things went sour, so blaming the CRA, etc, is totally bogus.

As better commenters than I have noted, it wasn't the CRA that is bringing down commercial real estate. You've got 50% of commercial mortages underwater, and no way are you convincing me that the CRA drove that one.

This could just as well represent who predatory lenders went after. There was a study that a significant fraction of people who were sold subprime mortgages qualified for cheaper prime mortgages, but the mortgage companies wanted the higher-priced subprime ones.